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Cameroon’s Treasury recovered 673 billion FCfa in revenue in the first quarter of 2014

Cameroon’s Treasury recovered 673 billion FCfa in revenue in the first quarter of 2014
  • Comments   -   Wednesday, 16 April 2014 02:51

(Business in Cameroon) - According to the Managing Director of the Treasury at the Ministry of Finance, Sylvester Moh, Cameroon’s Treasury has recovered 673 billion FCfa in revenue as of March 31, 2014. This performance, highlights Mr Moh in an interview in the government daily publication, has surpassed its target by 79 billion FCfa relative to the Treasury plan undertaken by the Ministry of Finance.  

The same source explains 632 billion FCfa have been spent out of this recovered sum; spent primarily on salary payments for civil servants and State employees as well as service providers. These factors lead the Treasury Managing Director to declare that “the State of Cameroon is not in difficulty” contrary to much of the information recently published in some Cameroonian newspapers, including an article entitled “Is the state Bankrupt?”.

But Mr Moh’s reassurance will not easily convince economic operators who have been complaining about the State’s owed payments for several months now as well as thousands of new recruits in public sector posts whose salaries have remained unpaid for many months. The recourse of issuing government securities by Cameroon (Treasury Bills), will not refute the existence of financial challenges at the Treasury.

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